Long Grove Real Estate Market - View Long Grove Real Estate Market Trends in Illinois

Spring 2012 Market Update If you can qualify, now is an exceptional time to buy a home in Long Grove. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 847-363-3686
Average Home Price	$650,000 - View Graph Trend

Average Price Compared to Last Year	Down 5-10%

Average Time on Market	More than 120 days

Best Selling Price Range	$700,000 - $749,000

Worst Selling Price Range	$950,000 - $999,000

Prices As % of Asking Price	90-95%

Existing Home Prices for the past 90 days are?	Decreasing

Market Trend	Decreasing

Buyers’ or Sellers’ Market	More buyers than sellers

Buyer Activity for the past 90 days in Long Grove is	Increasing

Seller Activity for the past 90 days in Long Grove is?	Increasing

Multiple Offers?	No

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	5-10%

Is Financing Available For Qualified Buyers?	Yes

Housing Inventory	Good supply - Some Prices

Greatest Activity	Repeat Buyers

Reason to Buy/Sell	Good economic news

Nearest Metro Area	Chicago

Housing Hot Spots	Kildeer, Hawthorn Woods

Average Sold Price	$650,000 - View Graph Trend

Long Grove Local News

News for Long Grove, IL - April 20th, 2012 11:07am
Average marketing times are slowly falling but we have a lot of inventory to clear to become balanced. Don't expect to see prices rising this year, but I think cautious optimism is allowed for 2013.

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Mortgage Rates

– May 28th, 2012 –
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30 yr. fixed rate: 3.82%
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%

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Agent quarterly survey shows growing optimism toward a housing market recovery

End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.

Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.

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Long Grove Real Estate Market Trends – Illinois

Long Grove Real Estate Market Conditions and Trends